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Altiplano Initiates Advance on the Hugo Decline to the 360 m Level at Farellon
Edmonton, Alberta--(Newsfile Corp. - July 22, 2021) - Altiplano Metals Inc . (TSXV: APN) (WKN...
About this update from Altiplano Metals Inc.
[{"type":"text","content":"Altiplano Initiates Advance on the Hugo Decline to the 360 m Level at FarellonEdmonton, Alberta--(Newsfile Corp. - July 22, 2021) - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (\"Altiplano\" or the \"Company\") is pleased to provide an update on the ongoing underground development at the Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile. The development work on the Hugo Decline continues, with the underground advance to the next operating position located at the 360 m level (Figure 1). The extension of the decline is part of the ongoing development to support additional operating levels at depth. This work was initiated after establishing working levels on the 368 m drift and has an expected total advance of 92.5 m to reach the 360 m level. To date, 28 m have been completed, with the intersection of the 360 m level expected in late August. The advance also involves the construction of two mucking bays (aka cuddies) used to store waste from the advance of the decline. On completion of the 360 m advance, both mucking bays will be used as emergency stations as the Hugo Decline continues expansion to additional lower levels.Figure 1. Underground Schematic of Hugo Decline AdvanceTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/4303/90958_0a36457234c298a5_001full.jpgThe decision to commence production on the Farellon deposit is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and there is increased uncertainty and economic and technical risks of failure associated with the production decisionCEO Alastair McIntyre comments \"Advancing the Hugo Decline to the 360 m is the next step in the underground development of the Farellon Mine. The 360 m level provides opportunity to access new working faces and positions us for accessing additional levels at depth, which will be supported by our recently announced underground drilling program.\"About AltiplanoAltiplano Metals Inc. (TSXV: APN) is a Canadian mining company focused on the acquisition and development of near-term cash flowing assets and exploration projects of significant scale. Altiplano's goal is to grow into a mid-tier producer of copper, gold and silver with immediate plans of generating profits from three cash flowing projects in 2021. Management has a substantial reco...